1. Topsy-turvy stocks: The volatility of the past few trading days could continue into Wednesday.

News that German Chancellor Angela Merkel had struck a deal with her center-left rivals to form a coalition government could be supporting market sentiment. The breakthrough follows four months of uncertainty.

Asian markets ended with mixed results. The Shanghai Composite dropped by 1.8% on Wednesday. It's lost as much as 8% since a recent peak in late January.

The stock soared more than 20% in extended trading following the results. If the gains hold when markets open Wednesday, the stock could top its IPO price of $17 for the first time since July.

Snap's sales climbed to $286 million in the fourth quarter, up 72% from the same period a year earlier, as the company transitions to an automated ad sales auction similar to Google(GOOGL) and Facebook(FB).

4. Earnings watch:Hasbro(HAS), Humana(HUM) and Michael Kors(KORS) are set to release earnings before the open.

Then 21st Century Fox(FOXA), Allstate(ALL), Tesla(TSLA) and Yum China(YUMC) are releasing earnings after the close.

Shares in Chipotle(CMG) and Disney(DIS) are making big premarket moves after the companies released quarterly results on Tuesday. Chipotle stock is dropping by about 8% while Disney is rising by about 3%.

Shares in SoftBank surged by nearly 4% in Tokyo after the tech group released its latest earnings.